journal entry

Q: P3,000 9. Dungeon Company paid the monthly rent, P6,000. The accountant would record the following…

A: A journal entry is a record of a transaction happened in a entity in the the books of such entity…

Q: 8. Customers' individual accounts are included in a subsidiary ledger referred to as the accounts…

A: The subsidiary ledgers are the collections of individual accounts that are of similar nature.

Q: 47. Recognition of bad debts Debit Credit a. Bad debts expense b. Bad debts expense c. Bad debts…

A: In case of recognition of bad debt expenses the  Bad debts expenses need to be debited

Q: In the 1982 AT&T antitrust case, the resolution was an out-of-court settlement involving a Multiple…

A: AT&T is the groundbreaking antitrust case that happened USA which led to 1982 Bell System…

Q: 9. I.J. Millora Corporation recently used P72,000 of direct materials and P3,000 of indirect…

A: Direct material is that which a firm used in production process and it can be directly related to…

Q: 27. Evergreen Lawn Care products just paid a dividend of $1.85. This dividend is expected to grow at…

A: Next divided (D1) = $1.90 Growth rate (g) = 0.03 Current price (P0) = $12.50 Cost of ordinary equity…

Q: The Vermillion Inc. wants to raise its working capital. The Company decides to issue 6,000 shares of…

A: A warrant is a type of financial instrument that businesses would offer in return for a cost or…

Q: Which of the following are not considered external users of financial statements? Creditors. All of…

A: Financial statements are a set of documents that provide information about the financial…

Q: Multiple choice

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Options are: Accept or Reject

A: a) Which project should be selected if there is no capital restraints:Project H,F,A,C,E should be…

Q: Samuel Manuel Co., a manufacturer, had inventories at the beginning and end of its current year as…

A: Cost of goods sold = Finished goods beginning + cost of goods manufactured - Finished goods ending…

Q: Magenta Corporation declared $0.70 per share cash dividends on September 18. The dividends were…

A: At the time of declaration of dividend, the retained earnings are debited with the amount of…

Q: Cost of goods sold is P7,400. Beginning inventory is P3,500 and ending what were purchase returns…

A: Since there are multiple questions, we will answer only the first question. If you want the…

Q: counts receivable subsidiary ledger 6. At the begini Accounts Receivable in the general ledger…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: breakeven chart i

A: [Note: Since you have asked  multiple questions, we will solve the first question for you. For the…

Q: 16. The primary goal of managerial accounting is to provide information to: a. creditors b.…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The bal . equal to net income or loss for. the period the capital account after all closing entries…

A: Solution: Capital accounts consists of capital introduced by the owner plus net income less any net…

Q: d. ayable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to…

A: Introduction to Merchandise  Merchandise is referred to as the inventory is a good or product that a…

Q: 10. You deposit $10,000 into an account. Five years later you make annual deposits of $1,000 into…

A: given, PV = $10,000 N = 15  A= $1000 I=4% N=10 YEARS

Q: Fareed purchases a bond, newly issued by the Big Time Corporation, for $20,000. The bond pays $1,000…

A: Principal amount: Principal amount is the original amount of money borrowed by a person. In bonds,…

Q: 4. If the marginal cost is $6.50 per unit, fixed costs to $70 000 per annum, and the selling price…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: P2,900 debit b. P300 debit a. P2,900 credit d. P300 credit C. account to net or net loss? ial…

A: There are two types of accounts maintained in the accounting books. One is temporary accounts, and…

Q: Piermont Clothing's current bond price is $1,060. The coupon rate 7%, coupons are paid semi-…

A: Using excel RATE function

Q: From the schedule below provided for quality control activities, determine the appraisal costs:…

A: Appraisal costs are expenses incurred by a company to ensure that the quality of its products and…

Q: What are the most important Cash Outflows from Financing Activities? Check All That Apply Issuing…

A: Issuing Bonds: Cash inflow - Financing activity   Issuing Stocks: Cash inflow - Financing activity…

Q: IFRS are determined by the O a. International Accounting Studies Board. b. International Auditors'…

A: IFRS (International financial reporting standards) refers to a set of rules and guidelines which…

Q: 40. Payment (settlement) of accounts payable Debit Credit a. Inventory b. Cash Accounts payable…

A: >Accounts payable balance is the balance of the suppliers that is owed by the business. Accounts…

Q: Question 2 Which of the following is not a user of management accounting information? O Employees.…

A: There are several branches of accounting being used in business. These may be financial accounting,…

Q: Fischer, Inc.'s trial balance contains the following balances: Cash $371 Accounts Payable $268…

A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial Balance to…

Q: 12. An accountant wanting to know the balance of a particular account would refer to the a. ledger.…

A: In the process of accounting, there are steps involved in the recording of each and every…

Q: . Net income plus operating expenses is equal to (assume there are no other income and expenses). a.…

A: Solution: 16 Cost of merchandise sold is equal to Net Income minus Gross Profit Cost of goods…

Q: 1. Lucy Sportswear manufactures a specialty line of T-shirts. The company uses a job-order costing…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: is dated on September 15 with terms of 1/15, net 45. If Zea Co. chooses not to the discount, by when…

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: döčument authorizing the issuance of materials from the storeroom is the: materials requisition b.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: An n-year, 8%, $1000 par-value bond with semi-annual coupon is sold for $1,084.45. The bond yield a…

A: GIVEN, FV=$1000 PV = - $1084.45 R = 7% COUPON RATE = 8% SEMI ANNUAL COUPON

Q: 12. Viaje Manufacturing incurred P106,000 of direct labor and P11,000 of indirect labor. The proper…

A: Solution: Production cost such as direct materials, direct labor and manufacturing overhead applied…

Q: 12. Throughout the accounting period, the credit side of the Manufaduring Overhead account is used…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: You purchase a ticket to the Austin City Limits music festival, ACL, for $250 on November 1st. Eight…

A: GIVEN, PV = $250 FV = $275 N = 812

Q: Please Correct and incorrect option explain

A: Step 1: Understanding the Information givenPrincipal Amount of Promissory Note = $1,000Interest rate…

Q: Which of the following are Cash Outflows from Investing?

A: The cash flow statement shows the cash inflow and cash outflow from the operating activities,…

Q: The value of depreciation recapture is $

A: Calculation of depreciation The asset falls into 5years property class of MACRS, according to this,…

Q: 13. A client decides not to correct misstatements communicated by the auditor that collectively are…

A: Financial Statement:— It is the statement that presents the financial performance of a company. It…

Q: 1. e buyer is to pay the transportation costs of delivering merchandise, delivery terms are stated…

A: 1)Option A  is correct FOB shipping point Means free on board at shipping point; buyer incurs all…